Prime Minister Nguyen Tan Dung has asked the Electricity of Vietnam (EVN) to adhere to a recently approved plan through 2015 that would make the group profitable.
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| EVN claimed that by the end of 2011 they had lost over VND10 trillion (USD476 million) in its power business |
EVN claimed that by the end of 2011 they had lost over VND10 trillion (USD476 million) in its power business and VND15 trillion (USD714.2 million) due to exchange rate disparity. The group also also saw a power loss rate of 9-10% per year.
With the PM’s permission, VND10 trillion of these losses will be included in the group’s power prices between 2012 and 2013.
According to the plan, electricity prices will gradually be increased and, in 2013, prices will become market-based. EVN will have the responsibility of providing electricity to all communes and 98% of rural households in the country.
They were also urged to put 42 turbines in 20 power projects into operation, with a total capacity of 11,600 MW between 2012 and 2015. Plans for 14 power plants are already underway with a combined capacity of 12,410 MW, which should come into operation between 2016 and 2020.
EVN will also continue upgrading rural power grids, particularly in mountainous areas and on islands.
During a recent online meeting held on the Government’s website, Deputy General Director of EVN, Duong Quang Thanh said that the group plans to invest over VND500 trillion (USD23.8 billion), VND315 trillion of which has already been secured.
